No fuel price hike now as stocks sufficient, next month's adjustment after talks: Minister

Bangladesh has not raised fuel prices as stocks remain sufficient, and any adjustment next month will be made after discussion, according to Energy, Power and Mineral Resources Minister Iqbal Hasan Mahmud Tuku.

Responding to a question regarding raising the price of fuel in parliament today (7 April), the minister explained, "There is a law governing fuel price adjustments. Under that law, we revise prices every month. Last month, prices were not increased after adjustment.

"We are currently working on the pricing for next month. If the adjustment shows that an increase is necessary, we will discuss it in the cabinet and consider that option."

He added that the government is sourcing fuel from all possible channels to ensure an uninterrupted supply.

Mentioning that the country currently has sufficient fuel reserves, the minister said that there are now 164,644 tonnes of diesel in stock, and another 138,000 tons will arrive by 30 April. Apart from this, there are 10,500 tonnes of octane in stock, and another 71,433 tonnes are expected to arrive by April. Petrol reserves stand at 16,000 tonnes, with an additional 36,000 tonnes awaiting arrival.

The minister also informed the parliament that tag officers have been appointed at every filling station for monitoring, and the situation is being monitored daily via Zoom meetings with deputy commissioners. He also warned that mobile court drives against illegal fuel hoarding will continue.

'Bangladesh only South Asian country to keep fuel prices stable'

Minister for Power, Energy and Mineral Resources Iqbal Hasan Mahmud Tuku has said that almost all countries in South Asia are struggling to cope with the current situation. Pakistan has already increased fuel prices by 50%, Sri Lanka has introduced rationing, and India, Afghanistan, Nepal, and other countries have also raised prices.

In comparison with South Asian countries, Bangladesh is the only country that has so far kept fuel prices stable.

The minister said, "Due to political instability in the Middle East and the restrictions imposed by Iran on ship movement through the Strait of Hormuz following joint US-Israeli attacks, global fuel supply is being disrupted. As a result, abnormal volatility has been observed in international oil prices. Despite this situation, the government has maintained a normal supply of all types of fuel in the country by exploring all possible sources."

He further stated that fuel prices have been kept unchanged in April, taking into account the livelihoods of the general public and agricultural activities. To ensure diesel supply for farmers, instructions have been given to deputy commissioners to issue agricultural cards similar to irrigation cards.